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Bankruptcy VS. Debt Settlement - Advantages & Disadvantages
Bankruptcy
Bankruptcy is a serious choice with long term consequences. The most popular forms of consumer bankruptcy in New York are Chapter 7 and Chapter 13. It is sometimes considered an "option of last resort." Our debt relief lawyers will help you evaluate all your possible options for debt resolution in order to see if any alternatives to bankruptcy are feasible. Bankruptcy may be the better option if you need immediate relief from mounting debts and litigation or judgments pursuant to those debts. Filing for chapter 7 bankruptcy can offer a quick and relatively inexpensive way of discharging unsecured debt for individuals meeting certain criteria.
What are some of the impacts? First off, your must qualify to file bankruptcy based on a variety of factors which may include your household size, income, debt amount, type of debt, and the county in which you reside. If you file, the bankruptcy notation on your credit report may remain for 7-10 years, along with a Public record for an indefinite period of time. In a chapter 7 bankruptcy, any non-exempt assets may be liquidated by the Trustee for repayment to your creditors. If you qualify for Chapter 13, you would enter into a repayment plan for a portion of your debts to be repaid over 3 to 5 years. Debt Settlement
Debt Settlement is an alternative to filing Bankruptcy. Debt Settlement allows you to make progress toward paying off debts. Debt Settlement can provide you immediate relief by reducing the amount you pay each month and with the total debt payoff. You avoid having to file bankruptcy to solve the problem. By using a qualified and reputable organization, you will experience immediate positive benefits.
Debt Settlement allows you to save money over the long term by settling the debts for less than the full amount which always includes late charges, over limit fees and excessive interest charges. With Debt Settlement, you get to move on with your life and rebuild. You don't have the stress associated with rude collectors threatening you. You’ll immediately have peace of mind to start living vs. worrying and losing sleep! |
CALL TO LEARN MORE:
347.640.HELP (4357) |
Attorney Advertising. We are designated as a debt relief agency under the U.S. Bankruptcy code. We operate strictly within the State of New York. Prior results do not guarantee future performance. The contents of this website and every page on this domain are strictly for informational/educational purposes, it does not constitute legal advice and does not create an attorney/client relationship.
*Estimates, if any, based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. Prior results do not guarantee future performance. Each case and client is unique. We do not assume consumer debt, make monthly payments to creditors or provide tax, accounting or credit improvement services. Please contact a tax professional to discuss tax consequences of settlement. By submitting your information on any form on this website, you consent to contact via telephone and email by an agent of this law firm.
*Estimates, if any, based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. Prior results do not guarantee future performance. Each case and client is unique. We do not assume consumer debt, make monthly payments to creditors or provide tax, accounting or credit improvement services. Please contact a tax professional to discuss tax consequences of settlement. By submitting your information on any form on this website, you consent to contact via telephone and email by an agent of this law firm.
_Legal Services Provided by the Law Office of Simon Goldenberg, PLLC
New York Debt Settlement & Credit Lawyer - Credit Card Lawsuit Defense - Brooklyn, Queens, Staten Island, Bronx - Attorney
Address: 615 Degraw St. Brooklyn, NY 11217 - Phone: 347-460-4357
BrooklynDebtSettlement.net
New York Debt Settlement & Credit Lawyer - Credit Card Lawsuit Defense - Brooklyn, Queens, Staten Island, Bronx - Attorney
Address: 615 Degraw St. Brooklyn, NY 11217 - Phone: 347-460-4357
BrooklynDebtSettlement.net